Schnieders Capital Management LLC Cuts Stake in Johnson & Johnson (NYSE:JNJ)

Key Points

• Schnieders Capital Management LLC reduced its holdings in Johnson & Johnson by 5.1%, owning 67,096 shares worth approximately $11.13 million, making it the firm's 11th largest position.
• Johnson & Johnson reported $2.77 earnings per share (EPS) for the last quarter, surpassing analysts' estimates, with a revenue of $23.74 billion, reflecting a 5.8% increase from the previous year.
• The company declared a quarterly dividend of $1.30, representing a 3.0% yield and a payout ratio of 55.61%, scheduled to be paid to shareholders on September 9th.

Schnieders Capital Management LLC lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 5.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 67,096 shares of the company's stock after selling 3,629 shares during the period. Johnson & Johnson accounts for approximately 2.4% of Schnieders Capital Management LLC's holdings, making the stock its 11th largest position. Schnieders Capital Management LLC's holdings in Johnson & Johnson were worth $11,127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth $36,000. Highline Wealth Partners LLC grew its position in Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after acquiring an additional 86 shares during the last quarter. von Borstel & Associates Inc. bought a new position in Johnson & Johnson in the first quarter valued at about $49,000. Capital A Wealth Management LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter worth about $50,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Johnson & Johnson in the first quarter valued at approximately $52,000. 69.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on JNJ shares. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price target for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Piper Sandler reaffirmed an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Royal Bank Of Canada lifted their price objective on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Finally, Erste Group Bank upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $174.50.

Johnson & Johnson Stock Up 0.5%

Shares of NYSE:JNJ traded up $0.82 during midday trading on Thursday, hitting $171.41. 9,314,579 shares of the company's stock were exchanged, compared to its average volume of 9,367,092. The company has a market cap of $412.81 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 2.17 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $172.18. The stock has a 50 day moving average price of $158.89 and a 200-day moving average price of $157.27.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The company had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same period last year, the business posted $2.82 earnings per share. Johnson & Johnson's revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is currently 55.61%.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.